‘Force Interest Rates Down’

Clicking on to Kevin07.com.au, I could not find how Labor proposed to ‘force’ rates down, but it’s an interesting verb choice. Even the government’s claims about interest rates in the 2004 campaign did not go that far.

You would think Labor might have learned from the government’s experience that there is no point in making the claim that a government can lower interest rates. The direction of Australian interest rates is determined by business cycle and international influences over which the government (and even the RBA) have very little effective control.